Hamilton Sundstrand Authorizes Mubadala Aerospace for Boeing 787 MRO

ABU DHABI, United Arab Emirates, July 13, 2011 /PRNewswire/ -- Hamilton Sundstrand Corporation and Mubadala Aerospace have finalized a wide-ranging strategic agreement under which Mubadala Aerospace will be a key part of the support network for servicing Hamilton Sundstrand products and systems on the Boeing 787. The deal, a first for Hamilton Sundstrand, includes a licensing agreement for Mubadala Aerospace to provide maintenance, repair and overhaul (MRO), through Mubadala-owned companies Abu Dhabi Aircraft Technologies (ADAT), SR Technics and Sanad Aero Solutions (Sanad), based on Hamilton Sundstrand's technical expertise. The agreement gives 787 operators an additional choice for their maintenance needs for Hamilton Sundstrand products and systems, which make up a majority of the systems on Boeing's new 787 Dreamliner.

Mubadala Aerospace is a business unit of Mubadala Development Company, the strategic investment arm of the Abu Dhabi government. Hamilton Sundstrand is a subsidiary of United Technologies Corp. (NYSE: UTX).

Under the license agreement, ADAT and SR Technics will provide integrated component solutions (ICS) to Boeing 787 airline customers, while Sanad will provide financing of rotable components, all with the technical support of Hamilton Sundstrand. Mubadala Aerospace is developing a global network covering the entire MRO value chain, including engine, component and airframe capabilities, in addition to spare engine and rotable leasing through Sanad.

"Hamilton Sundstrand is pleased to establish this key relationship with Mubadala Aerospace to equip Mubadala MRO companies with the required resources to service Hamilton Sundstrand systems and particularly components for the Boeing 787," said Matthew Bromberg, vice president and general manager, Hamilton Sundstrand Customer Service. "This arrangement will allow Hamilton Sundstrand to extend its reach of OEM world-class service by building on Mubadala Aerospace's capabilities in both the Europe and the Middle East. The Boeing 787 has a diverse customer base and demands diverse maintenance solutions."

Homaid Al Shemmari, executive director of Mubadala Aerospace, said, "We are delighted to sign this strategic agreement with Hamilton Sundstrand, which brings essential component capability to ADAT and SR Technics for the Boeing 787 and financing opportunities for Sanad. Hamilton Sundstrand is one of the largest players in the aerospace components industry, and shares our global ambitions. Importantly, this expands our relationship with UTC and complements our existing partnership with Sikorsky in AMMROC. We are excited about the overall opportunities this relationship brings to both parties."

Mubadala Aerospace, a business unit of Mubadala Development Company, is driving the development of Abu Dhabi's aerospace industry to establish the Emirate as a global aerospace hub. Through partnerships with world leading companies, Mubadala Aerospace has combined global expertise and local resources to develop an advanced, technology-driven global aerospace business based out of Abu Dhabi. Mubadala is building the industry around composite aerostructures and OEM manufacturing, maintenance, repair and overhaul (MRO) services and pilot training. These sectors are underpinned with education & training initiatives to create job opportunities for the local population and develop a highly skilled workforce, with research & development facilities being established to place Abu Dhabi at the forefront of the global aerospace industry. Flagship projects include Strata, the advanced composites aerostructures manufacturing plant and Sanad, the component and engine leasing company that works in partnership with Mubadala's Abu Dhabi Aircraft Technologies and SR Technics to deliver integrated MRO services to a global customer base. For more information please visit: www.mubadala.ae

With 2010 sales of $5.6 billion, Hamilton Sundstrand is headquartered in Windsor Locks, Conn. Among the world's largest suppliers of technologically advanced aerospace and industrial products, the company designs, manufactures and services aerospace systems and provides integrated system solutions for commercial, regional, corporate and military aircraft. It also is a major supplier for international space programs.

United Technologies Corp., based in Hartford, Conn., is a diversified company providing high technology products and services to the building and aerospace industries worldwide.

www.hamiltonsundstrand.com

Contact:
Dan Coulom
860-654-3469
[email protected]

Mubadala Aerospace media contact
Maryam Imogen Ghouth
Senior Communications Officer, Aerospace Unit
+971 55 700 7592
[email protected]

SOURCE Hamilton Sundstrand Corporation